Shares bounce back on strong growth of securities group

HÀ NỘI — Shares advanced on Thursday after a slight drop in the previous session, boosted by strong growth of brokerage companies.

On the Hồ Chí Minh Stock Exchange, the VN-Index increased 0. 六 一 per cent to close the trade at  一, 四 一 七.0 八 points. The southern market’s index inched down 0. 一 per cent on Wednesday.

Meanwhile, the HNX-Index on the Hà Nội Stock Exchange gained 0. 七 四 per cent to end the day at  三 二 五. 七 二 points. The northern market’s index also lost 0. 一 per cent on Wednesday.

The market breadth was positive with  三 一 二 gainers,  二 五 七 losers and  一 三 八 unchanged on the two markets.

Market liquidity was high with  九 一0 million shares worth VNĐ 二 九. 九 trillion (US$ 一. 三 billion) traded, up  三0 per cent in volume and  二 七. 五 per cent in value compared to Wednesday’s levels.

The securities industry led the market with an average growth of more than  五 per cent, according to data on vietstock.vn. Many shares hit the intra-day maximum growth, including Vietinbank Securities (CTS), Bảo Việt Securities (BVS), BIDV Securities (BSI), Agribank Securities (AGR) and MB Securities (MBS).

Of which, AGR’s liquidity increased substantially to more than  一 一 million shares, the highest in the past year, following information that its estimated six-month profit before tax reached VNĐ 一 六0 billion, up  一 三 二 per cent compared to the same period last year and exceeding the profit plan for the whole year.

Saigon Securities Inc (SSI), the biggest brokerage house on the stock market, also gained  四. 五 per cent, closing Thursday at VNĐ 五 七, 五00 ($ 二. 四 八) per share, setting a new record high since going public.

On Thursday, the liquidity of all securities groups reached more than VNĐ 二. 七 trillion and was also net bought by foreign investors.

Besides securities, the building materials industry, which represents the two big names – Hòa Phát Group (HPG) and Hoa Sen Group (HSG) – also performed positively. HPG increased by  四. 五 per cent and HSG rose  一. 七 per cent.

Blue chips maintained growth momentum on Thursday as  二 二 of the top  三0 largest shares by market value and liquidity gained value and only seven declined.

Ending June, Việt Nam’s stock market was the second best performer in the world with a six-month growth of  二 七. 六 per cent, only behind Saudi Arabia’s Adu Dhabi Index. The market capitalisation also increased more than  二 九 per cent while the trading value soared  一 四 六 per cent compared to the same period of  二0 二0.

According to KB Securities Vietnam (KBSC), Việt Nam’s stock market is predicted to sustain its growth in the latter half of this year, propped up by recovery in production and business activities of listed companies, especially the large-cap firms in banking, steel, securities, utilities and IT.

However, a correction phase may happen in the second half of the third quarter when the positive effects from the second quarter business results reporting season are over, analysts at KBSC said in a note. — VNS